68686 Summit Drive Cathedral City, CA $ 1,600,000
68686 Summit Drive
$ 1,600,000
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68686 Summit Drive

Cathedral City, CA, 92234
$ 1,600,000
Baths0.0 Sq 6,214

Monthly Estimate*

$ 11,176

Listed by Craft & Bauer Real Estate Co.
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Studio

Commercial Property for sale in Cathedral City, CA

for $1,600,000. This 6,214 square foot building was built in 1978 on a lot size of 0.4.

A remarkable opportunity awaits in the bustling Cathedral City GREEN ZONE—an established Opportunity Zone—with this 6,214 sq. ft. industrial asset set on a 17,424 sq. ft. lot. Occupied by a solid Auto Body Shop under a 5-year NNN lease, this investment assures an unburdened cash flow, with the tenant responsible for all property expenses including taxes, insurance, and maintenance. The lease comes with a 5% + CPI annual increase clause, promising a rising income stream that maximizes your investment year over year. The NNN structure of the lease underscores a hassle-free investment, allowing you to enjoy the full benefits of the property's earnings without the need for hands-on management. Nestled in a pro-cannabis city, the property offers versatile use, whether you choose to continue with the existing auto body shop or explore opportunities in the evolving cannabis sector. Its prime location in an Opportunity Zone not only fosters operational growth but also amplifies fiscal gains through potential tax benefits. With a commitment to providing financial clarity and transparency, the comprehensive rent roll will be disclosed to interested buyers, outlining the structured progression of returns. This property is a testament to enduring value and potential in the heart of Cathedral City's industrial district. Seize this exclusive chance to integrate a truly turnkey asset into your investment portfolio. Discover the intersection of secure tenancy, financial growth, and strategic location with this industrial offering in Cathedral City.

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Commercial Active

Price

$ 1,600,000

Bedrooms

Studio

Property Type

Commercial

Taxes

$ 0

Style

Industrial

Lot Size

0.4

Year Built

1978

Town/City

Cathedral City

County/Region

Riverside

MLS | Web ID

SB23118101

Days on Market

320

Features
General
Utilities ElectricityConnected NaturalGasConnected SewerConnected WaterConnected
Zoning IP - GREEN ZONE
Security Features SecurityGate
Year Built 1978
Property SubType Industrial
Business Type AutoBody AutoService Commercial Distribution Industrial Manufacturing Other Storage Warehouse Wholesale
County Riverside
Net Operating Income 90000.0
Operating Expense 0.0
New Construction N
Property Type CommercialSale
HOA / Comm Assn N
Attached Garage N
Garage Y/N N
Special Listing Conditions Standard
Status Active
Directions Take I-10 East toward San Bernardino. Exit onto Date Palm Dr. Turn right onto Date Palm Dr. Turn right onto Perez Rd. Turn right onto Summit Dr.
City Cathedral City
View Y/N N
Senior Community Y/N N
MLS Area 336 - Cathedral City South
Lot Size Square Feet 17424.0
Private Pool N
Waterfront Y/N N
Carport Y/N N
Street Name Summit
Listing Terms Cash CashtoNewLoan Item1031Exchange
Property Attached Y/N N
Land Lease Y/N N
Electric Expense 0.0
Home Warranty Y/N N
Current Financing Conventional
Trash Expense 0.0
Water Sewer Expense 0.0
Lease Renewal Y/N N
Additional Parcels Y/N N
Lease Considered Y/N N
Rent Control Y/N N
Days on Market 255
Building Area Units SquareFeet
Standard Status Active
Occupancy Description Tenant
Year Built Source Assessor
Property Sub Type Additional Industrial
Cap Rate 5.63
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Exterior
Fencing ChainLink
Water Source Public
Lot Size Area 17424.0
Number of Buildings 2
Spa N
Building Area Total 6214.0
Lot Size Acres 0.4
Lot Size Units SquareFeet
Lot Size Source Assessor
Crops Included Y/N N
Open Parking Y/N N
Horse Y/N N
Irrigation Water Rights Y/N N
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Interior
Total Stories 1
Basement (Y/N) N
Air Conditioning Y/N N
Heating Y/N N
Fireplace Y/N N
Street Suffix Drive
Laundry Features None
Entry Level 1
Electric On Property Y/N N
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Internal Only
Street Number 1 68686
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* Excluded Features
List By
Craft & Bauer Real Estate Co.

Broker

(818) 572-9557

Phone

Affordability Calculator

$11,176
Per Month
100%
0%
0%
Monthly Principal & Interest
$11,176
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 7.49% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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The time to sell is now
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Nearby
273443 Elementary School
272636 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
1/23/2024$1,600,000 -8.57% Price Down
7/3/2023$1,750,000 Listed Price

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68686 Summit Drive, Cathedral City, CA, 92234 is a Commercial Property for sale at $1,600,000 with 6,214 sqft and a lot size of 0.4. 68686 Summit Drive is a studio with 0.0 baths and was built in 1978. The property's zip code is 92234 which is in Cathedral City, CA